MENU Transit Benefits Remain $130/mo for 2015
The tax-free limits for transit and parking benefits for the calendar year beginning January 1, 2015 remain $130.00 per month for transit and $250.00 per month for parking, per IRS Revenue Procedure 2014-61 (http://www.irs.gov/pub/irs-drop/rp-14-61.pdf). See all News Additional Information: For questions or assistance, please call us at 877-587-6236 or email us at support@tranben.com.
Transit Benefits Lowered to $130/mo for 2014
Please note the changes to the monthly tax-free limits for transit and parking benefits that go into effect on January 1, 2014. According to the IRS guidelines (which can be found at http://www.irs.gov/irb/2013-47_IRB/ar11.html), the 2014 pretax limit for transit benefits is dropping to $130/mo and the parking benefit is increasing to $250/mo. This will only
IRS Adjusts Commuter Benefit to $245
Taken from IRS.gov - http://www.irs.gov/uac/Newsroom/Annual-Inflation-Adjustments-for-2013 "WASHINGTON — The Internal Revenue Service announced today annual inflation adjustments for tax year 2013, including the tax rate schedules, and other tax changes from the recently passed American Taxpayer Relief Act of 2012. For tax year 2013, the monthly limitation regarding the aggregate fringe benefit exclusion amount for transit
Transit Benefit Increase for 2013
Last night, Congress passed the “American Taxpayer Relief Act of 2012”, and when it is signed into law, the tax-free transit benefit monthly maximum will increase to $245.00 per month. As part of the bill, Congress voted to re-establish transit benefit parity with the parking benefit for the 2013 calendar year. Since the 2013 tax-free
Congress Increases Transit Benefit to $245.00 Per Month for 2013
When the “American Taxpayer Relief Act of 2012” is signed into law, the tax-free transit benefit monthly maximum will increase to $245.00 per month. In the bill, Congress voted to re-establish transit benefit parity with the parking benefit. Since the 2013 tax-free maximum for the parking benefit is $245.00 per month, transit benefits will increase
California Passes New Regional Commuter Benefit Bill
From The San Jose Business Journal A regional commuter benefit bill that was signed by Gov. Jerry Brown will allow companies in the Bay Area more options to offer their employees pre-tax commuting benefits. Starting Jan. 1, 2013, Bay Area businesses with more than 50 employees can offer commuting benefits to employees who work more
APTA: Public transit users save $9,700 yearly
According to the American Public Transportation Association’s (APTA) July Transit Savings Report, individuals who ride public transportation instead of driving can save, on average, $809 this month, and $9,702 annually. For more information -- www.metro-magazine.com/News/Story/2012/07/APTA-Public-transit-users-save-9-700-yearly.aspx See all News Additional Information: For questions or assistance, please call us at 877-587-6236 or email us at support@tranben.com.
Congress Adjourns Without Passing Transit Benefit Extension
While Congress passed a two-month extension of the payroll tax cut at the eleventh hour just before Christmas, this bill did not include an extension of the public transportation commuter benefit (at the rate of $230 per month per commuter). Newspapers across the U.S. have taken up the cause of public transit commuters whose monthly
Important 2012 Transit Benefit Information
Dear TranBen friends & clients, On January 1st, 2012, the maximum level of transit fringe benefit will drop from its current level of $230.00 per month to its previous level (adjusted for inflation) of $125.00 per month. Until Congress determines that the transit fringe benefit should again be on par with the parking fringe benefit
Senate Passes Tax Package Without Transit Benefits Or Alternative Fuel Tax Credits; No Vote On Measure In The House This past weekend, the Senate voted overwhelmingly (89-10) to pass a temporary, compromise bill extending the current payroll tax rate and unemployment insurance until the end of February 2012. The bill also includes language that addresses